Clover Health Investments Corp. (NASDAQ: CLOV) Fells -65.94% This Year: What’s Next

The trading price of Clover Health Investments Corp. (NASDAQ:CLOV) floating higher at last check on Friday, July 29, closing at $2.90, 3.75% higher than its previous close.

Traders who pay close attention to intraday price movement should know that it has been fluctuating between $2.70 and $2.80. In examining the 52-week price action we see that the stock hit a 52-week high of $11.13 and a 52-week low of $1.95. Over the past month, the stock has gained 29.03% in value.

Clover Health Investments Corp., whose market valuation is $1.26 billion at the time of this writing, is expected to release its quarterly earnings report Nov 08, 2021. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.21 per share this quarter, however they have predicted annual earnings per share of -$0.79 for 2022 and -$0.64 for 2023. It means analysts are expecting annual earnings per share growth of 36.30% this year and 19.00% next year.

Analysts have forecast the company to bring in revenue of $814.62 million for the current quarter, with the likely lows of $749.14 million and highs of $864.8 million. The average estimate suggests sales will likely up by 296.60% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $3.31 billion. The company’s revenue is forecast to grow by 124.60% over what it did in 2022.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Clover Health Investments Corp. 5 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest CLOV has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently Hold.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned CLOV a recommendation rating is 6. Out of them, 3 rate it a Hold, while 1 recommend Buy, whereas 0 assign an Overweight rating. 1 analyst(s) have tagged Clover Health Investments Corp. (CLOV) as Underweight, while 1 advise Sell. Analysts have rated the stock Hold, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

A quick review shows that CLOV’s price is currently 13.06% off the SMA20 and 17.20% off the SMA50. The RSI metric on the 14-day chart is currently showing 64.41, and weekly volatility stands at 3.99%. When measured over the past 30 days, the indicator reaches 5.54%. Clover Health Investments Corp. (NASDAQ:CLOV)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 0.14. With analysts defining $2.00-$7.00 as the low and high price targets, we arrive at a consensus price target of $3.58 for the trailing 12-month period. The current price is about 31.03% off the estimated low and -141.38% off the forecast high, based on this estimate. Investors will be thrilled if CLOV’s share price rises to $3.00, which is the median consensus price. At that level, CLOV’s share price would be -3.45% below current price.

To see how Clover Health Investments Corp. stock has been performing today in comparison to its peers in the industry, here are the numbers: CLOV stock’s performance was 3.75% at last check in today’s session, and -65.94% in the past year. Also during today’s trading, the S&P 500 Index has surged 0.22%, while the Dow Jones Industrial also saw a positive session, up 0.16% today.

An evaluation of the daily trading volume of Clover Health Investments Corp. (NASDAQ:CLOV) indicates that the 3-month average is 8.95 million. However, this figure has increased over the past 10 days to an average of 4.57 million.

Currently, records show that 473.03 million of the company’s shares remain outstanding. The insiders hold 1.80% of outstanding shares, whereas institutions hold 27.10%. The stats also highlight that short interest as of Apr 28, 2022, stood at 29.41 million shares, resulting in a short ratio of 4.5 at that time. From this, we can conclude that short interest is 6.21% of the company’s total outstanding shares. It is noteworthy that short shares in April were down slightly from the previous month’s figure, which was 30.11 million. However, since the stock’s price has seen -24.73% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.

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